Wall Street legend and Fundstrat CEO Tom Lee has been appointed the Chairman of the Board of Directors for BitMine’s Ethereum Treasury Strategy.
Already one of the top Bitcoin mining companies, BitMine ($BMNR) is now aiming to be one of the largest publicly traded ETH holders and stakers. Its stock price is already up by over 950% since its June 27th announcement.
Besides tapping Lee to lead its Ethereum treasury play, BitMine has also secured partnerships with major TradFi and crypto industry players, including Founders Fund, Pantera Capital, Galaxy Digital, Kraken and more.
While a significant portion of the project’s success hinges on the expanding stablecoin market cap and the resulting ETH revenue, Lee and BitMine’s partners are also betting on a substantial appreciation in Ethereum’s price.
This is also excellent news for Ethereum meme coins like Pepe, considering smart money investors continue to view them as beta bets on ETH. Even a new token, BTC Bull (BTCBULL), set to go live on Ethereum on July 7th, is also being backed by analysts as one of the best meme coins to buy.
Fundstrat founder Tom Lee has been one of the earliest proponents of crypto assets on Wall Street. In a 2019 CNBC interview, when the Bitcoin price was trading at just $5000, he recommended a 1% allocation into it. Safe to say, those who took that bet are sitting on outsized returns today.
Lee has since become a Bitcoin maxi, recently projecting that the largest crypto will hit $150k this year and $3 million in the long term.
However, the Fundstrat CEO has since turned his attention to Ethereum, recently calling it the next Bitcoin in another CNBC interview.
Lee has cited surging institutional demand for stablecoins as a key driver behind his bullish outlook on Ethereum. Banks like JPMorgan and Visa, as well as merchants such as Amazon and Walmart, are quickly increasing their stablecoin adoption.
Meanwhile, top US officials increasingly view dollar-pegged stablecoins as a strategic tool to preserve the global dominance of the US dollar. Stablecoins are collectively the 12th-largest holders of US treasuries.
Currently, the stablecoin asset class has a cumulative market capitalization of $250 billion, with US Treasury Secretary Scott Bessent projecting it to reach $3 trillion this decade.
Lee points out that stablecoins already account for 30% of Ethereum network fees, a figure expected to rise significantly as adoption accelerates. As a result, he sees Ethereum treasury companies as excellent long-term bets, which makes him the ideal choice to lead BitMine’s ETH strategy.
Notably, Tom Lee expects that new stablecoin issuers, including major banks like JPMorgan, will launch Ethereum staking facilities as they issue dollar‑pegged tokens, helping to secure the network. This is extremely bullish for ETH.
As such, Lee expects a “banana” rally in the Ethereum price.
Smart money investors continue to view Ethereum meme coins as beta bets on ETH. Pepe is the perfect example of this, considering its strong correlation with the Ethereum price.
However, prominent traders continue to hunt for low-cap meme coins.
For instance, BTC Bull (BTCBULL), a new meme coin, is set to go live on July 7th on Ethereum DEXs.
The project has branded itself as a bet on Bitcoin’s long-term growth trajectory. Token holders are set to receive free BTC airdrops when the Bitcoin price hits $150k, and at every subsequent $50k increase in its price.
Meanwhile, they also stand to benefit from token burn events triggered at $125,000 and at every subsequent $25,000 increase in Bitcoin’s price.
There is also a massive BTCBULL airdrop at $250k.
A Bitcoin-themed meme coin, soon to go live on the Ethereum blockchain, is the ideal investment for the current crypto market outlook. Unsurprisingly, it has already raised nearly $8 million in its presale.
Prominent analysts continue to view it as one of the best meme coins to buy, with others calling it the next 100x crypto.
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